DeFi tokens have been making massive gains this year, and Uniswap has not been left behind. Uniswap is among the few coins still trading at the green zone this week as the rest of the crypto market takes a dip.
UNI is trading at $22.36 on major exchanges at the time of writing after a 10.2% gain in 24 hours.
UNI Price Analysis
Uniswap’s dominance in the DeFi market makes this token one of the greatest crypto investments. Just last week, UNI maintained an uptrend and showed signs of reaching the $30 level. However, the rally was interrupted shortly after, and UNI retreated.
UNI has gone above the $20 critical support levels at the current price, which shows it may be recovering from bears. A full recovery will be recorded if UNI pushes beyond $25, a level, which will form ground for a bull swing.
There is still a chance that UNI might fail to maintain an uptrend and trend downwards below $20. This will mainly occur if there is a lack of market support. Shooting to those low levels might create a new entry-level for traders who want to leverage the dip.
Despite the gains, the overall market for UNI is still bearish, given that in a 30-day period, UNI is still down by around 12%.
Uniswap is dominant in the DeFi and crypto sector. Rarely can a week or two pass without Uniswap’s integration into other crypto projects. Just recently, CoinMarketCap integrated Uniswap’s network to launch Ethereum token swaps. Users on CoinMarketCap can link to an Ethereum wallet and trade tokens through the Uniswap protocol.
🚀 We’re incredibly excited to see Uniswap integrated natively into @CoinMarketCap
🔥 Token pages now have a “Swap” icon allowing users to connect to an Ethereum wallet and instantly trade that token through the Uniswap protocol
— Uniswap Labs 🦄 (@Uniswap) June 30, 2021
Uniswap is also benefiting from Artificial Intelligence (AI), which is believed to help to streamline the DeFi sector. Fetch.ai, an artificial intelligence firm based in Cambridge, launched the service to help DeFi users avoid the risk of massive losses through automatic withdrawals.
These developments by Uniswap make UNI one of the safest investments in the crypto space, especially by those who venture into the market because of technology and usability. With the growth of DeFi, a rise in UNI value is inevitable.
Where to Buy UNI
To buy Uniswap (UNI), create an account on any of these exchanges:
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